CryptoFinance & Economy

The true nature of "money" discovered by humanity: From the birth of currency to crypto assets

2024/12/03Editors of Iolite
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人類が見出した「お金」の正体 貨幣の誕生から暗号資産まで——

The potential of non-transferable stone coins

Have you ever seen a giant stone currency carried by a primitive man in a manga or something? That currency actually exists. It is located on Yap Island in the Federated States of Micronesia. Even in the 19th century, this island had almost no exchange with the surrounding islands, and the islanders lived in an extremely primitive society.

For this reason, from the end of the 19th century to the beginning of the 20th century, many scholars visited the island to investigate it as a valuable sample to observe primitive human society. What they saw was a giant stone currency called "fey" that seemed impossible to carry.

It ranges in diameter from about 30 cm to nearly 3 m, and the largest ones weigh over 1 ton. The characteristics of fey are that they were specially cut and transported from a distant island, and because they are too heavy, they are not carried like normal currency. Even if this currency was used for buying and selling, it was never handed over to the other party, but was left in front of the house or on the roadside.

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Iolite Vol.13

Iolite Vol.13

May 2025 issueReleased on 2025/03/28

Interview Iolite FACE vol.13 Joseph Lubin, co-founder of Ethereum and founder of Consensys PHOTO & INTERVIEW Yusuke Narita Features: "Dawnbreak Players 30: 30 Web 3.0 Players to Watch in 2025", "How to Use EXPO2025 DIGITAL WALLET", "The Global Controversy Over Meme Coins: What Happened in the U.S. and Argentina", "Finally, Technology Has Entered the Social Implementation Phase: Examples of Web 3.0 Use in an Era of Declining Population" Crypto Journey: Interview with Mohsin, a Popular Crypto YouTuber Special Series: Virtual Nishi: "Market Trends in Crypto Assets and Key Points to Interpret" Series: Tech and Future: Toshinao Sasaki, etc.

MAGAZINE

Iolite Vol.13

May 2025 issueReleased on 2025/03/28
Interview Iolite FACE vol.13 Joseph Lubin, co-founder of Ethereum and founder of Consensys PHOTO & INTERVIEW Yusuke Narita Features: "Dawnbreak Players 30: 30 Web 3.0 Players to Watch in 2025", "How to Use EXPO2025 DIGITAL WALLET", "The Global Controversy Over Meme Coins: What Happened in the U.S. and Argentina", "Finally, Technology Has Entered the Social Implementation Phase: Examples of Web 3.0 Use in an Era of Declining Population" Crypto Journey: Interview with Mohsin, a Popular Crypto YouTuber Special Series: Virtual Nishi: "Market Trends in Crypto Assets and Key Points to Interpret" Series: Tech and Future: Toshinao Sasaki, etc.